Silver (AUD)- Daily chart. Likely respect 50% retracement. Silver (AUD)- Daily chart. Likely respect 50% retracement.
XAG
Gold One Last Bounce 1950.00 - Plummet Until 2022Gold bounce to to 1900+ then dump.
Looking at some key numbers in gold using Gann numbers. Major number of 2050.00 reached.
Based on Gann Fann analysis looks to be the end of the trend for gold.
Gold to drop until 2022. USD to BOOM.
President Trump will continue to ensure stable economic growth.
DJI and NASDAQ 100 both look solid
No need to short the tech sector.
Cheers
Buck
Orderzones Explained : A form of Support & ResistanceHello traders!
In this educational idea im going to be going over the 5 different main types of Order Zones on Crypto Charts & how i identify and draw these zones, aswell as what they are used for.
Orderzones are a way of marking on the chart historically significant areas where price had strong reactions to.
The price tends to come back to these areas and have strong reactions, the Order Zones act as a form of Support & Resistance.
For those who are new to Technical Analysis ; "Support" is a area on the chart price and demand (buying pressure) increases from, with "Resistance" being the opposite, with price decreasing and sell orders (Supply of asset) increasing from the latter.
Why do i use Order Zones?
-Reduces risk & increases probability of potential trades
-Trying to trade with; not against larger size traders such as institutions that use similar price levels due to historic signifcance
-Providing clear entry and exit points to calculate Risk:Reward Ratio (R:R)
-Providing reference points to capitalize on historical areas of market volatility
-Allows us to reduce clutter and find key areas as the volatility on Crypto makes it difficult to chart
We have 5 main types:
-Supply Clusters
-Demand Clusters
-Single Candle Supply
-Single Candle Demand
-Orderblocks
Supply Clusters & Demand Clusters
First we must find areas on the chart that look similar to a tightly squeezed together rectangle . Price should then make a "thrust" (major increase, or decrease in value) from this rectangular area. We use the Rectangle Tool to draw a zone across these areas.
In the below image you can click for a in depth explanation of how to use these clusters in your trades.
Single Candle Supply & Single Candle Demand
To draw and identify the Zones first we must find areas on the chart where a strong reversal occurs, at the start of the trend reversal, or at swing points we can find larger then normal "wicks": (wicks are the thin, needle points at the end of the candlesticks ) as you can see in the above and below images.)
Click the below image for a in depth explanation of how to use these zones in your trades.
Orderblocks
Orderblocks are the small square shaped candle bodies, usually found in between significant price moments. They are small "pauses" before the next move. We use the Rectangle Tool to draw a zone across these areas.
In the below image you can click for a in depth explanation of how to use Orderblocks in your trades.
If you take some time to go back over your charts (especially on the Monthly, Weekly & Daily timeframes) and test out some of these Order Zones, you will see more then often price comes back to these areas before reversing like a magnet towards the next closest Order Zone so they become a useful tool in any traders arsenal.
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XAGUSD is facing bullish pressure, potential for further upside.Description:
Price is facing bullish pressure from our pivot level and showing room for possible further bullish momentum. We see a medium probability bullish scenario above our pivot 23.8229, with 1st resistance at 25.0226 as a possible target. Failure to hold above pivot at 23.8229 would see price swing the other way towards 1st support at 23.5266.
Pivot: 23.8229
Supporting Points:
23.6% Fibonacci retracement, Graphical swing low support, 100% Fibonacci extension
1st Support: 23.5266
Supporting Points:
38.2% Fibonacci retracement, Graphical overlap support
1st Resistance: 25.0226
Supporting Points:
Graphical swing high resistance
Trading FX & CFDs carries high risk.
SILVER (XAGUSD) - Weekly Technical Analysis UpdateWeekly Technical analysis Update Midterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 21.90 on 11/30/2020, so more gains to resistance(s) 24.50 and maximum to Major Resistance (26.00) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
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SILVER (XAGUSD) - Weekly Technical analysis UpdateMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 21.90 on 11/30/2020, so more gains to resistance(s) 24.50 and maximum to Major Resistance (26.00) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
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SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 21.90 on 11/30/2020, so more gains to resistance(s) 24.50 and maximum to Major Resistance (26.00) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 51.
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SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 21.90 on 11/30/2020, so more gains to resistance(s) 24.50 and maximum to Major Resistance (26.00) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 51.
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XAGUSD, Approaching key support. Potential for bounce.Description:
Price currently holding above Ichimoku cloud, showing room for possible further bullish momentum. We see a medium probability bullish scenario above our pivot 23.7767, with 1st resistance at 25.0226 as a possible target. Failure to hold above pivot at 23.7767 would see price swing the other way towards 1st support at 22.9385.
Pivot: 23.7767
Supporting Points:
23.8% Fibonacci retracement, Graphical swing low support, 78.6% Fibonacci extension
1st Support: 22.9385
Supporting Points:
61.8% Fibonacci retracement, Graphical overlap support
1st Resistance: 25.0226
Supporting Points:
Graphical swing high resistance
Trading FX & CFDs carries high risk.
XAGUSD has loosing the powerXAGUSD has a falling trend and it is losing its power. For the 1d graph, it has lower highs and a "falling triangle". Also, shoulder-head-shoulder formation and double pick were seen in the short past. They indicate weakness. I'm more close to short but before taking a position, it must wait for a confirmation.
Short opinion:
If it will break the support ($20-22), the target will be $18.5.
Long opinion:
If it will break the falling trend, because of flag formation, the target will be $35 with a 50% gain.
It is not an investment suggestion. Please be careful with your decisions.
XAGUSD Price ForecastSilver 50-61.8% reversal completed and a probable further downside expected to continue
Share thoughts in the comments
Link to inverse chart
Good Luck
XPDUSD price forecastWatch for breakdown on XPDUSD, completing wave C
Share thoughts in the comments
Like and follow for more content
XAGUSD price action analyzisXAG chart with price action completely shows that the trend is going to be bearish and soon will be profitable, stay tuned :)
XAGUSD flag pattern annd its predictionsilver is going to be bearish for a short time as the double top formation is completed and the flag pattern is confirmed in the chart but as you all know when the flag pattern is completed we are going to face a bullish trend after that
XAG Silver price in Desceding Trianglesilver price is now in descending triangle if it break lower than we are going to 19 $
and close above and breakout than we will move higher
GOLDThe next possible move on GOLD: a sideway move (on low TF) is in the making waiting for a third wave down
XAGUSD Long / 7+RR Day, maybe Swing, TradeOk so we are long on XAGUSD, also long on NASDAQ and a few other pairs, no time to go over that right now.
I believe that XAG and XAUUSD can reverse to the upside in the coming hours and trading sessions.
In this reticular trade, we have the following:
- Entry at the fibs with selling price action slowing down
- RSI in the lows
- A trendline acting as a resistance, which can break with solid momentum
Not much more, our trading strategy is simple and easy...
Good luck trading this week!
Silver (AUD) - Symmetrical triangle consolidation. Silver (AUD) - Symmetrical triangle consolidation.
SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 22.15, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 22.15 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
The RSI resistance #1 at 56 is broken, so the probability of resumption of uptrend is increased.
A peak is formed in daily chart at 25.99 on 11/06/2020, so more losses to support(s) 23.05 and minimum to Major Support (22.15) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 48.
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SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 22.15, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 22.15 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
The RSI resistance #1 at 56 is broken, so the probability of resumption of uptrend is increased.
A peak is formed in daily chart at 25.99 on 11/06/2020, so more losses to support(s) 23.05 and minimum to Major Support (22.15) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 48.
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XAGUSD ✅XAGUSD brokeout above the ascending triangle resistance as expected from my previous analysis ✅.
Breakout was also confirmed on RSI pattern breakout.
